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UK Cops Seize Nearly $250M in Crypto Tied to Money Laundering
British police announced Tuesday they seized almost $250 million in crypto amid ongoing investigations into international money laundering. “The Hash” team discusses the potentially false narrative of crypto’s role in illicit activity. “Of all the transaction volume that cryptocurrencies have, only roughly 2% is used for criminal activity,” host Christine Kim said.
Korea Crypto Law Applies to Binance, Samsung Next Invests in Nifty’s
The head of Korea’s Financial Services Commission (FSC) says crypto laws apply to Binance. Samsung Next invests in Nifty’s, and in a new series, Forkast News will examine how NFTs could revolutionize the music business. More on these stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”
UK Binance Users Locked Out From Faster Payments System
In a letter to its U.K. customers, Binance said Monday that any pound sterling withdrawals or transactions on the platform via the Faster Payments network would not be processed. CoinDesk’s Nikhilesh De weighs in on what this means for Binance and its users.
Apifiny CEO: More Crypto Adoption Ahead
Haohan Xu of global digital asset trading network Apifiny breaks down his on-chain data on the kinds of trading volumes seen on his platform.
Sen. Toomey: Regulators Should Not Impede the Development of Crypto
Pennsylvania Sen. Pat Toomey discusses the concerns over burdensome crypto regulations and the need for continued development of private digital currencies. “From a policymaker’s point of view, I want to make sure that we don’t impede the development of this really exciting, new category of innovation,” Toomey said. Plus, crypto investments and digital dollar.
Brian Brooks on Binance's Global Regulatory Warnings
Amid global regulatory pressures against Binance, Brian Brooks, CEO of Binance.US, responds to whether this is a coordinated effort by regulators or something closer to a domino effect. "I think it's interesting how much attention Binance gets versus other exchanges," Brooks said, noting the intensifying regulatory scrutiny. Plus, new high-profile hires, U.S. risks for operating Binance.US, crypto regulation, stablecoins, and how China's crypto crackdowns impact the global crypto markets.
Survey: Most Salvadorans Skeptical of Bitcoin as Legal Tender
JPMorgan is casting doubt on El Salvador adopting bitcoin as its legal tender, saying there is widespread skepticism and hesitancy in the country regarding bitcoin as a medium of exchange in a new survey. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.
Victory Capital: ‘Hot Crypto Summer’ Ahead
Mannik S. Dhillon, the president of Victory Solutions, says the rangebound nature of bitcoin is a good sign for the asset class as it matures. “Despite what we’ve seen in the last few weeks, the setup is there for this to be a pretty hot crypto summer for all asset classes,” he said.
El Salvador’s Bitcoin Adoption Is ‘Trendsetting,’ Says Voyager Digital CEO
Voyager Digital CEO Steve Ehrlich responds to claims that El Salvador’s bitcoin adoption is not significant. “Being the first country to accept [bitcoin] as legal tender is trendsetting,” he said, adding “it will be a model for what others do.”
Could Ethereum Developer Virgil Griffith Return to Jail?
U.S. prosecutors suggest former Ethereum developer Virgil Griffith, who officials charged in 2019 with violating U.S. sanctions law in North Korea, return to jail for disobeying his bail conditions.